Guideline Value for JANAKIRAMAN COLONY EXTN

Janakiraman Colony Extn guideline value

The current guideline value of Janakiraman Colony Extn is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Janakiraman Colony Extn has changed

The guideline value for Janakiraman Colony Extn has seen several revisions over the years. In 2007, the value was Rs 1,350 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017. The 2023 revision saw a rise to Rs 6,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 389%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, indicating that Janakiraman Colony Extn's current figure is above this median.

• Janakiraman Colony: Rs 7,700 per sq.ft (2024)
• Jawaharlal Nehru Road (100 Feet Road): Rs 14,300 per sq.ft (2024)
• Jawahar Street: Rs 5,500 per sq.ft (2024)
• Jaganathan Street: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar I St Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar II Nd Main Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiraman Colony Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, leading to a total of Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janakiraman Colony Extn?

The Sub Registrar Office that covers Janakiraman Colony Extn is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Arumbakkam

The guideline value is a critical factor during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid, thus influencing the overall cost of buying or selling property in the area.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Janakiraman Colony Extn?

The current guideline value of Janakiraman Colony Extn is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 389% over the years.

What is the land classification for Janakiraman Colony Extn?

The land classification for Janakiraman Colony Extn is Residential Special Type - I.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Janakiraman Colony Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.